This is all an apparition of induced anxiety and fear. This happens to assist you in lightening your exposure or flipping against the market here.
$IBB is about to breakout intraday. This, today, matters.
USD/JPY, right to the middle and turning back up.
FANG needs to assist here, but I think the low is in.
More later,
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
I loved spy hunter, but I hated the stupid helicopter
OA, are you getting in out of $LABU following the market sentiment chart for $IBB or just holding through discouragement?
Wait, why would one get out here?
No, not here. I’m saying when $IBB hits $315 or so.
I mentioned that one can do that for some quick trades, but no, I am not doing that.
hoping this is just a backfill of the gap to squeeze weak longs out and then we proceed to march on
So in other words, you think what I just wrote might be correct?
haha. indeed. Maybe in the past I have but i haven’t gone against you in probably the last 6 weeks. It’s like when at the craps table. When you got a hot roller, ride with em! #respect
BLUE is ready to go. Buy away.
Top look out there for sure.
big time beaten up. looking for that catch up trade. along with NK
I am familiar with the fear you describe and have certainly given in to it more than once in the past as we rallied from a recent low. I really like the description – lots of knowledge in those first two sentences. I need to bookmark this post
Technical analysis 2.0. They know what you are doing and know how to move you around.
So true – it’s crazy because the fear / anxiety produce a physical / hormonal reaction that is not rational. Takes a special skill to hold on or add in the face of the biological impulse which is essentially to run
I have sold so many times at the absolute bottom, because of this – that stomach churning feeling sucks. Forced me to game plan trades, if this, then as opposed to how I feel, because my feelings just want to lose my money for me
I’m know you have had more as well, but the call of IBB yesterday was/is a thing of beauty! Thanks!
Thanks. Look for a move somewhere into 310-315 today/tomorrow morning.
Jeff,
Thanks for getting me into FCX in the mid 9’s. It keeps going up and I just move my stop up. What a thing of beauty!
IBB IV is through the roof. I can’t even participate via deep ITM calls.
I hate to recommend these 3x ETF’s…but that’s why I went with it. IV too high. Either way, you are at risk of decay.
Jeff – What is your take on $AAPL? I’m contemplating adding some. Looks like balance is around $110.5 so today’s move lower may be a breakdown (or more likely false breakdown)
I’m just looking at the late Aug / early Sept balance. First move was up out of that area, then move back into that area, and now below that area.
Only major concerns I have are (1) Its below the 200DMA and (2) potential H&S pattern on weekly. Valuation is good otherwise.
I own calls. I think it has small upside over next two weeks
YEN lack of participation/confirmation is bothering me a lot. Loving the way HY is trading though. Better day today than on Friday… HYG chart seems very promising with a 3 white soldiers move or whatever nonsense it’s called.
Anyone long EROS?
Uneventful bond auction. The 30yr ain’t scared still. Positive for risk.